Seadrill (NYSE:SDRL) Upgraded to Strong-Buy at Zacks Research

Seadrill (NYSE:SDRLGet Free Report) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

Several other research firms also recently issued reports on SDRL. BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Seadrill in a research note on Tuesday, June 30th. Capital One Financial set a $55.00 target price on shares of Seadrill and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Finally, Citigroup restated a “neutral” rating on shares of Seadrill in a research note on Monday, September 7th. Four investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $59.40.

View Our Latest Analysis on Seadrill

Seadrill Stock Up 6.1%

Shares of SDRL stock opened at $49.72 on Monday. The stock’s fifty day moving average price is $45.49 and its 200 day moving average price is $45.40. Seadrill has a 1-year low of $28.10 and a 1-year high of $55.47. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 1,657.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Seadrill (NYSE:SDRLGet Free Report) last released its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. The company had revenue of $430.00 million during the quarter, compared to analysts’ expectations of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. On average, research analysts expect that Seadrill will post 0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Seadrill during the 2nd quarter valued at about $207,509,000. Patient Capital Management LLC acquired a new position in Seadrill in the 2nd quarter worth about $73,876,000. Webs Creek Capital Management LP purchased a new position in Seadrill during the second quarter worth approximately $49,368,299. Wellington Management Group LLP purchased a new position in Seadrill during the second quarter worth approximately $29,947,000. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in Seadrill by 27.6% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,449,565 shares of the oil and gas company’s stock valued at $111,455,000 after purchasing an additional 529,884 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

About Seadrill

(Get Free Report)

Seadrill Limited is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company operates and manages offshore drilling units, including drillships and semisubmersible rigs, for exploration, development and production projects in deepwater and harsh-environment locations.

Its services include contract drilling, rig operations, well construction support and related offshore services. Seadrill’s activities have historically covered major offshore energy regions such as the North Sea, the Gulf of Mexico, Brazil and other markets in the Atlantic and international offshore basins.

Founded in 2005 and headquartered in Hamilton, Bermuda, Seadrill has expanded through fleet investments and industry transactions.

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